Globe Telecom Inc., despite booking more revenues, registered a 27-percent decline in net income during the first half due to absence of a one-time gain from asset sale and higher depreciation expense. In its quarterly report, the telco giant said net earnings fell to P14.38 billion for the period from P19.68 billion a year ago even though total topline figures grew by nearly 3 percent to P89.52 billion. The Ayala-led company's net income normalized in the first half without the recognition of asset sales.

https://business.inquirer.net/415657/globe-earnings-down-on-absence-of-one-time-gains

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